Portland, OR, Aug. 25, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research,the global baby monitor market generated $1.2billion in 2019, and is estimated to reach $1.9billion by 2027, registering a CAGR of 5.4% from 2020 to 2027.The report offers anextensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Growing awareness regarding child safety and increasing working families across the developing economies such as China and India drive the growth of the global baby monitor market.However,high cost associated with baby monitorsis anticipated to restrain the market growth. Furthermore,implementation of artificial intelligence (AI) technology and growing millennial populationare expected to provide new growth opportunitiesduring the forecast period.
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Covid-19 scenario:
- Major baby monitormanufactrurers across the globe havestopped their production activities due to disrupted supply chain amid the lockdown due to Covid-19 pandemic.
- Due to Covid-19 pandemic, the companies has allowed their employees to work from home,owing to which, parents are now able to monitor their baby personally.This is expected to decline the demand for baby monitors.
The report offers a detailed segmentation of the global baby monitor market based onproduct type, connectivity, distribution channel, and region.
Based on product type, the video segmentcontributed to the largest share in 2019, accounting formore than four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, itis estimated to portray the highest CAGR of 5.6% during the forecast period.
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Based on distribution, the retail stores segmentaccounted for the largest share in 2019, holding more than two-fifthsof the total share, and is expected to maintain the largest share throughout the forecast period. However,the e-commerce segmentis expected to register the highest CAGR of 7.4% from 2020 to 2027.
Based on region, North Americacontributed the highest share, accounting formore than halfof the total market sharein 2019, and will maintain its dominance throughout the forecast period.However,Asia-Pacific isexpected to grow at the highest CAGR of 9.7% from 2020 to 2027.
Leading market players analyzed in the research include Dorel Industries Inc., Samsung Electronics Co. Ltd.,LOREX Technology Inc.,Angelcare Monitors Inc., Shen Zhen Foscam Intelligent Technology Co. Ltd, VT ech Holdings Ltd., Koninklijke Philips N.V.,Summer Infant Inc., Withings Inc., and Nest Lab. Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.